Executive Summary: How To Create Ethscriptions on the Ethereum Blockchain
In this article, I explain what Ethscriptions are - a way to share image data on Ethereum without NFTs. I compare Ethscriptions to NFTs, walk through how to create and trade them, and examine the debated future outlook on whether they are really necessary.
Summary: Ethscriptions allow users to share image data on the Ethereum blockchain without creating NFTs, aiming to provide a cheaper and more decentralized alternative, but their necessity and future remains debated.
What are Ethscriptions:
- Allow sharing image data on Ethereum without creating NFTs
- Uses transaction calldata instead of smart contracts
- Created by Tom Lehman, inspired by Bitcoin Ordinals
Ethscriptions vs NFTs:
- Technically cheaper and more decentralized
- Limited to images currently, max 96KB
- NFTs support more complex data and platforms
Creating and trading Ethscriptions:
- Convert image to base64 data URI and hex
- Send 0 ETH transaction with hex data
- Can trade on platforms like Opensea
Future outlook:
- Uptake will depend on community interest
- Creator believes will play role in Ethereum scaling
- Some skeptical on necessity compared to native NFTs
Full article:
How To Create Ethscriptions on the Ethereum Blockchain | CoinMarketCap
Ethscriptions are Ethereum’s answer to Bitcoin ordinals — but this method has apparently been used years ago. Find out how to create digital artifacts on Ethereum using transaction calldata.
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